CBI auctions +$250M in forex on Sunday
Shafaq News/ The Central Bank of Iraq (CBI) reported a sharp increase in foreign transfer sales during its auction on Sunday, with a 95% rise in transfers compared to cash sales, reaching over $240 million.
According to an official statement by the bank, CBI sold a total of $253,382,970 during its auction, with an exchange rate of 1,310 IQD per US dollar for documentary credits and international settlements for electronic cards, and the same rate for foreign transfers. Cash sales were conducted at a slightly lower rate of 1,305 IQD.
The majority of the sales, amounting to $240,982,970, were designated to foreign balances in the form of transfers and credits, marking a significant 95% increase compared to the $12,400,000 in cash sales.
Notably, only one bank participated in purchasing cash dollars, while 13 banks fulfilled requests for foreign balance transfers. Additionally, 15 exchange companies took part in the auction.
